Sooooo, I didn’t post about the day 3 mission for the Live Richer Challenge because it was so straight forward. There wasn’t a bunch of reading. It basically asked participants to be mindful of their spending during the day. For example, if you typically buy coffee from a coffee shop before work, consider bringing coffee from home. Do that with all desires to spend and see how much you saved at the end of the day. Lucky me, I had no impulse to buy anything out of the house! (but really, there aren’t many exciting places around me to buy things outside anyway).
Today’s challenge was to do some research and open a high-yields savings account that required no minimum amount to open and no maintenance fee. The game plan was to only transfer the amount of money saved in the previous day’s challenge (the cost of tea and some hashbrowns!) to test things out. Tiffany (the Budgetnista’s real name) offered MagnifyMoney.com as a go-to spot for this investigation.Reading through the instructions, I noticed and noted my skepticism. Admittedly, I tend to side eye website names and really anything that sounds too catchy . Even the name “Budgetnista” distanced me from delving into Tiffany’s work earlier (or at least my inability to go out on a limb & not be distracted by the unfamiliar…I’m, generally, a risk taker in different ways!).
Anyway, MagnifyMoney.com profiled one of the online savings accounts my partner mentioned to me last night…so, you can probably guess which direction my research took me…
…#opened!
There was also a suggestion to create a different savings account through an app called, Digit. The idea is that it tracks and categorizes the money you spend monthly from your personal checking account, then finds places where you’re not spending money and transfers it out. It’s supposed to only transfer $5 to $50 on average with no possibility of making you overdraft (that seems to need human input, in my opinion). And as suspected, a decent number of reviews differed from the Budgetnista’s experience and that of some of her clients. Some folks even claimed that when their account overdrafted, it was difficult to reach Digit customer service. Unnecessary risk, much? Even if it does work for some, not sure it’s the thing for me. So, similar to two days ago, I used discernment around what advice to take and what advice to leave during the challenge.
Aside from the challenge, what am I noticing about myself? There’s quite a bit of fear showing up in my body. It’s one part excitement, another part extreme hesitance but I know where that comes from and I’m moving through it.
Cheers,
MFM
moon.flower.medicine 